ton27
Member of DD Central
Posts: 431
Likes: 267
|
Post by ton27 on Apr 17, 2020 11:05:50 GMT
Article in the FT this morning 'The UK accounting industry was plunged into its worst crisis in over a decade as the “Big Four” firms cut partners’ pay while their smaller rivals furloughed junior staff.'. Perfect opportunity to 'hang out' any ongoing administrations, especially as the FCA with do sweet felicity arkwright about chasing them!! They do not really need an "opportunity" as they are already experts at stringing it out ad infinitum. The recent 3 year extension to the administration is a prime example meaning it is even less likely we will see much of our money.
|
|
|
Post by qdot on Apr 25, 2020 7:38:00 GMT
I'm wondering if anyone can act as detective for me.
I have a Lendy Wealth account. So far, the only money back occurred on 10th January 2020 - I received 25.9% of my total investment back.
I've asked support for information on which loans are included in my Lendy Wealth portfolio, but they replied stating that they can't provide that information. My account in Lendy wealth always shows the following breakdown of 'active' loans:
20% Cornwall 20% Yorkshire 20% Inverness-Shire 20% North Yorkshire 20% Derbyshire
Any ideas?
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,906
Likes: 11,127
|
Post by ilmoro on Apr 25, 2020 8:55:18 GMT
I'm wondering if anyone can act as detective for me. I have a Lendy Wealth account. So far, the only money back occurred on 10th January 2020 - I received 25.9% of my total investment back. I've asked support for information on which loans are included in my Lendy Wealth portfolio, but they replied stating that they can't provide that information. My account in Lendy wealth always shows the following breakdown of 'active' loans: 20% Cornwall 20% Yorkshire 20% Inverness-Shire 20% North Yorkshire 20% Derbyshire Any ideas? I would suggest DFL34/37, DFL003/22, DFL014, DFL019 DFL029. The Cornish ones have nearly repaid in full so that probably the repayment, plus maybe there was uninvested cash.
|
|
|
Post by martin44 on Apr 25, 2020 20:27:08 GMT
Article in the FT this morning 'The UK accounting industry was plunged into its worst crisis in over a decade as the “Big Four” firms cut partners’ pay while their smaller rivals furloughed junior staff.'. Perfect opportunity to 'hang out' any ongoing administrations, especially as the FCA with do sweet felicity arkwright about chasing them!! They do not really need an "opportunity" as they are already experts at stringing it out ad infinitum. The recent 3 year extension to the administration is a prime example meaning it is even less likely we will see much of our money. Three ******g years,
|
|
|
Post by qdot on Apr 26, 2020 6:23:25 GMT
I would suggest DFL34/37, DFL003/22, DFL014, DFL019 DFL029. The Cornish ones have nearly repaid in full so that probably the repayment, plus maybe there was uninvested cash. Thank you sir! Looking through the others, the prospect of further returns looks distant at best...
|
|
|
Post by Please turn me over on May 6, 2020 19:24:49 GMT
A conversation involving Lendy, casino and roulette. That's about right now. Wonder if Brooke likes a game of poker?Or maybe Monopoly. Go straight to Jail do not collect £200... Yes, but he appears to be playing on a short stack.
|
|
sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
|
Post by sussexlender on May 22, 2020 20:20:52 GMT
Anyone know what on earth these weasel words from the latest update actually mean?
"The Joint Administrators sought legal clarification on a certain point and delayed processing the interim distributions until this was resolved. This is now resolved, and the Joint Administrators will be begin processing the interim distributions in the coming weeks".
Has the scandalous / greedy Lendy waterfall scheme been defeated?
|
|
ptr120
Member of DD Central
Posts: 1,198
Likes: 1,346
|
Post by ptr120 on May 23, 2020 6:55:19 GMT
I too would like to know what the certain legal point was, and why it delayed an interim distribution. If they were able to pursue this legal point, why have they been unable to pursue the legal question which would allow LAG to commence their case?
|
|
sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
|
Post by sussexlender on May 26, 2020 16:38:13 GMT
It would seem that no one knows what the Administrators were talking about regarding the legal issue that was resolved.
There has been no clarification or further information, not even on this forum, which is very unusual.
|
|
|
Post by angel19 on Jun 4, 2020 10:00:56 GMT
DFL032 recovery payment today.
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Jun 4, 2020 13:45:02 GMT
DFL032 recovery payment today.
That appears to be full capital repayment which is excellent news.
But we haven't had any interest on this loan for over a year now. Is that too much to hope?
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Jun 4, 2020 14:34:35 GMT
DFL032 recovery payment today.
That appears to be full capital repayment which is excellent news.
But we haven't had any interest on this loan for over a year now. Is that too much to hope?
I just had the following response from Lendy Support:
Dear Sam I Am,
Thank you for your email.
The outstanding Interest will follow in the next few working days as a separate transaction.
Thank you for your patience in this matter.
Kind regards,
The Lendy Customer Support Team Lendy Limited (In Administration)
|
|
|
Post by Badly Drawn Stickman on Jun 4, 2020 15:18:42 GMT
That appears to be full capital repayment which is excellent news. But we haven't had any interest on this loan for over a year now. Is that too much to hope? I just had the following response from Lendy Support: Dear Sam I Am,
Thank you for your email.
The outstanding Interest will follow in the next few working days as a separate transaction.
Thank you for your patience in this matter. Kind regards,
The Lendy Customer Support Team Lendy Limited (In Administration) Good grief, we might even get bonus interest as well then.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,906
Likes: 11,127
|
Post by ilmoro on Jun 4, 2020 15:51:01 GMT
I just had the following response from Lendy Support: Dear Sam I Am,
Thank you for your email.
The outstanding Interest will follow in the next few working days as a separate transaction.
Thank you for your patience in this matter. Kind regards,
The Lendy Customer Support Team Lendy Limited (In Administration) Good grief, we might even get bonus interest as well then. I would be surprised. The bonus interest isn't covered by any legal documentation other than statements made on the website so falls outside of the distribution waterfall. Paying bonus interest from Lendy fees would reduce proceeds due to creditors which is contrary to RSM mandate. I have no issues with being proved wrong
|
|
sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
|
Post by sussexlender on Jun 4, 2020 18:53:27 GMT
It would seem that no one knows what the Administrators were talking about regarding the legal issue that was resolved. There has been no clarification or further information, not even on this forum, which is very unusual. Still no answer from Lendy on this "resolved" issue. What is the secret that we are not being told? Just hoping it was a kick in the teeth for LB and his greedy fellow directors.
|
|